The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.4% in March, which BLS says was the largest monthly decline since January 2015. Interestingly, they do report that, overall, during the last 12 months, the all items index increased 1.5% before seasonal adjustment. Indeed…
“… A sharp decline in the gasoline index was a major cause of the monthly decrease in the seasonally adjusted all items index, with decreases in the indexes for airline fares, lodging away from home, and apparel also contributing. The energy index fell 5.8 percent as the gasoline index decreased 10.5 percent…”
The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and services. The CPI reflects spending patterns for each of two population groups: all urban consumers and urban wage earners and clerical workers. The all urban consumer group represents about 93 percent of the total U.S. population.
Click here to read the full release at the Bureau of Labor Statistics.
